Create another layer above the previous one and press CTRL+E for Merge Down the layers. Place the new got layer, containing the stripe as it is demonstrated below:



Make a copy of the last made layer and use on it the next filter’s options: Filter>Distort>Shear

 



Make three copies of the layer with the filter and select the Free Transform option to place the copies the same way indicated next image:



The two first layers containing the stripes should have the same parameters, shown below:
Blending Options>Drop Shadow

 



Next we have to make a click on Add a Mask option on the bottom part of the layers’ palette, but this click should be made on each layer containing the stripe. Select after that the Gradient Tool (G) to represent the half – opacity effect on the stripes’ ends. On the vertical stripe the half – opacity should be present on its top and its bottom.



Half – opacity effect on the left and right sides:



Apply the same method described above for the next layer too: